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Title

Patience in repeated bargaining: Revisiting Muthoo (1999)

AuthorsZapal, Jan
KeywordsRepeated bargaining
Patience
Discounting
Comparative statics
Approximations
Issue DateMar-2018
PublisherElsevier
CitationJournal of Mathematical Economics 75: 150-153 (2018)
AbstractThe paper shows that Corollary 10.3 in Muthoo’s book Bargaining Theory with Applications (Cambridge University Press, 1999) is incorrect and proves that patience increases a player’s equilibrium share in repeated bargaining situations. It clarifies why a tempting strategy of proof – replacing terms of an expression by approximations with identical limits, then doing comparative statics or taking limits – is flawed and will yield wrong conclusions in other contexts as well.
Publisher version (URL)https://doi.org/10.1016/j.jmateco.2018.01.007
URIhttp://hdl.handle.net/10261/175221
DOIhttp://dx.doi.org/10.1016/j.jmateco.2018.01.007
ISSN0304-4068
Appears in Collections:(IAE) Artículos
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